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A documentary collection is a group of documentary films grouped together for a specific purpose, such as showcasing a particular theme, genre, or filmmaker.
There are many different ways to classify and organize documentary collections. The most important factor is the overall theme or purpose of the collection. Other factors include the genre, filmmaker, length, and style of the documentaries.
What is meant by documentary collection?
A documentary collection is a process in international trade where the seller’s bank forwards shipping and commercial documents to the buyer’s bank, with instructions to release the documents only after payment or acceptance of a bill of exchange. It provides a level of security for both the buyer and the seller without involving a letter of credit.
Who issues the documentary collection?
A documentary collection is issued by the seller’s bank (also called the remitting bank) on behalf of the seller. The bank sends the documents to the buyer’s bank (known as the collecting bank) with instructions for payment or acceptance.
What is the difference between documentary collection and letter of credit?
A documentary collection involves the seller’s bank acting as an intermediary to collect payment or acceptance, without guaranteeing payment. In contrast, a letter of credit (LC) is a more secure payment method where the buyer’s bank guarantees the payment, provided that all terms in the LC are met.
What is clean collection and documentary collection?
A clean collection involves the transfer of financial documents (like a bill of exchange) without any accompanying commercial documents, while a documentary collection includes both financial and commercial documents such as invoices, bills of lading, and insurance documents.
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